Bank of Singapore has officially opened a branch in the Dubai International Financial Centre, DIFC President Sheikh Maktoum bin Mohammed
bin Rashid Al Maktoum, deputy ruler of Dubai, said in a recent release.
“This is an important milestone for Bank of Singapore,” bank CEO Bahren Shaari said in the release. “The
Middle East, specifically the UAE, has always been an integral part of our
business. The setting up of this branch in DIFC further strengthens our
franchise and commitment to serve the burgeoning population of ultra-high and
high-net worth individuals in this region.”
Attending
the opening ceremony were Shaari; DIFC Governor Essa Kazim;
Samuel Tsien, group CEO of OCBC Bank, the Bank of Singapore’s parent company; Ching Wei Hong, chief operating officer of OCBC Bank and chairman of Bank of Singapore; and representatives from 250 of the bank’s clients.
“This is an
exciting time for the wealth management industry in Middle East,” Kirit
Chauhan, Bank of Singapore’s market head for Middle East, sub-continent and
Africa, said in the release. “There is clearly potential for this market to develop and flourish.
Having a branch in DIFC, the leading financial hub in the Middle East, Africa
and South Asia, offers Bank of Singapore an ideal platform to tap on this
potential and expand our business further.”
